Business News Todayhttp://www.business-news-today.com
Business news today from all around the world.Mon, 19 Nov 2018 17:13:22 +0000en-GBhourly1https://wordpress.org/?v=4.9.8138425648Praxair to expand nitrogen capacity to support Samsung’s semiconductor fabhttp://www.business-news-today.com/praxair-to-expand-nitrogen-capacity-to-support-samsungs-semiconductor-fab/
http://www.business-news-today.com/praxair-to-expand-nitrogen-capacity-to-support-samsungs-semiconductor-fab/#respondMon, 19 Nov 2018 17:13:22 +0000http://www.business-news-today.com/?p=11562Industrial gas company Praxair revealed its plans to expand nitrogen capacity at its South Korean plant being constructed in Pyeongtaek in order to address growing demand of the gas at the semiconductor manufacturing complex of Samsung Electronics. The Pyeongtaek facility with an investment of around $600 million will comprise several hydrogen plants and air separation […]

]]>Industrial gas company Praxair revealed its plans to expand nitrogen capacity at its South Korean plant being constructed in Pyeongtaek in order to address growing demand of the gas at the semiconductor manufacturing complex of Samsung Electronics.

The Pyeongtaek facility with an investment of around $600 million will comprise several hydrogen plants and air separation units that will supply industrial gases for Samsung Electronics.

The project, which was announced in early 2018, is the largest ever investment for Praxair, a wholly-owned subsidiary of Linde.

Praxair is initiating the Pyeongtaek project in multiple phases. Apart from the hydrogen and high purity air separation plants, the company will also build various purifiers and an extensive pipeline system to deliver atmospheric, process and various specialty gases to Samsung Electronics.

Praxair to expand nitrogen capacity to support Samsung’s semiconductor fab in Pyeongtaek. Photo courtesy of SAMSUNG.

B.S. Sung – president of Praxair Korea, said: “We are pleased to meet the requirements of Samsung’s world-class semiconductor fab to support increasing demand in the region.

“This further strengthens our longstanding relationship with Samsung as we continue to provide a reliable supply of industrial gases and innovative technologies that enable them to serve their electronics customers globally, driving efficiency and growth.”

In July 2017, Samsung Electronics reported that a new semiconductor fabrication line at its Pyeongtaek campus started mass production and shipping of its first product to customers.

The facility focuses on the production of the company’s fourth-generation V-NAND (64 layers), adding to its capacity for cutting-edge memory products.

By 2021, Samsung Electronics plans to inject KRW 30 trillion ($27 billion) into its current Pyeongtaek plant to grow its semiconductor fabrication capacity.

Prasad Kapre, CEO and Director of Style Quotient Jewellery said: “After a successful launch, Being Human Jewellery is all geared up for an aggressive growth plan. With Chandigarh being our first franchise store, it sets the tone for upcoming Being Human Jewellery stores across the country. Women will now have access to a trendy, sleek, minimalist and elegant jewellery range to accessorize their look.”

The new jewellery store in Chandigarh was opened by Bollywood actor Aayush Sharma, who was recently introduced in Loveyatri, a movie from Salman Khan Films Production.

Aayush Sharma said: “It’s an honour to be in Chandigarh and inaugurate the first Franchise store of Being Human Jewellery. Arpita is closely and personally involved in developing the design and range for every woman aspiring for an exquisite jewellery piece and hence, my presence here. I hope Chandigarh welcomes the Brand with their world-renowned enthusiasm, which we, as a family, have all been fortunate enough to enjoy.”

The Being Human Jewellery store in Chandigarh is said to have a fascinating range of fine jewellery suitable for different tastes. Being Human Jewellery has elegantly designed light-weight collections in plain gold, diamonds, and coloured stone pieces.

The jewellery company claims that its designs are classic, stylish, quirky and affordable, and are suitable to every woman’s taste in fine jewellery.

Bollywood superstar Salman Khan said: “It feels great that we are taking our next step of expansion with Being Human Jewellery’s first Franchise Store in Chandigarh! The people of Chandigarh have always given me a lot of love and I hope we continue to receive it.”

]]>UK-based oilfield services company Expro has secured a four-year contract extension from BP for the $28 billion Shah Deniz Stage 2 project offshore Azerbaijan as per the latest oil and gas industry news.

Shah Deniz Stage 2 project Contract Extension

Under the extended contract, Expro will continue to provide subsea landing string equipment and services to the Shah Deniz 2 gas development in the South Caspian Sea, which entered into production in early July.

The oilfield services company had won a five-year contract in 2014 for the Shah Deniz Stage 2 project for the supply of its Landing String Assembly – High Pressure (ELSA-HP) 15k valves and also its EXPRESS electro hydraulic control systems.

The Shah Deniz Stage 2 project is anticipated to have a production of 16 billion cubic meters of gas per year (bcma) at plateau, which will be incremental to the current production at the Shah Deniz project. Along with the output from the first phase, the total production from the Shah Deniz field is expected to reach up to 26 bcma of gas and up to 120,000 barrels of condensate per day.

BP is the operator of the Shah Deniz Stage 2 project with a stake of 28.8% and is partnered by SOCAR (16.7%), PETRONAS (15.5%), Lukoil (10%), NICO (10%) and TPAO (19%).

To back the contract from BP and also to grow its portfolio in Azerbaijan, Expro has opened a $5 million facility in the country’s capital Baku. The new Expro facility in Azerbaijan will host 30 employees while encompassing the company’s office and workshop space of more than 8,500 m2.

The new Baku facility of Expro will support the extended contract for the Shah Deniz Stage 2 project. Photo courtesy of Expro Group.

The oilfield services company believes that the new facility in Baku will enable it to offer integrated subsea services to clients in the region, with the capacity to expand more core areas of the business.

Neil Sims – Expro Vice President for Europe CIS region, said: “The investment in our new facilities allows us to grow our presence and deliver the highest quality of subsea services to major clients, including BP. It also allows us to broaden our portfolio offering, leveraging our leading global expertise in well testing and intervention services.

“Our key stakeholders are critical to our success and I would like to thank our employees for their significant contribution to date, alongside our customers, suppliers and broader partners in Azerbaijan. We look forward to continuing our success and delivering an even stronger business for the future.”

]]>http://www.business-news-today.com/expro-shah-deniz-stage-2-project-contract/feed/011570Continental Services acquires United Vending & Market Serviceshttp://www.business-news-today.com/continental-services-acquires-united-vending-market-services/
http://www.business-news-today.com/continental-services-acquires-united-vending-market-services/#respondSun, 18 Nov 2018 17:33:37 +0000http://www.business-news-today.com/?p=11537Continental acquisition of United Vending : Continental, one of the largest food management companies in Michigan, has acquired United Vending & Market Services (United Vending) for an undisclosed amount. As per the deal, the entire leadership team and staff of United Vending will join the Continental team. United Vending is the fourth acquisition by Continental […]

]]>Continental acquisition of United Vending : Continental, one of the largest food management companies in Michigan, has acquired United Vending & Market Services (United Vending) for an undisclosed amount.

As per the deal, the entire leadership team and staff of United Vending will join the Continental team.

United Vending is the fourth acquisition by Continental in the past year. It also represents its largest acquisition till date.

United Vending, which is based in Ferndale, Michigan, provides vending services, full-line coffee services, and market place systems to large and small business and institutions across Metro Detroit.

Continental, on the other hand, serves a variety of businesses such as blue-chip corporations, colleges, universities, and hospitals. Continental acquisition of United Vending is expected to grow the former’s presence in local market and also help it deliver improved services to new customers.

United Vending & Market Services acquired by Continental Services

Continental, which is owned by Boston-based private equity firm New Heritage Capital, is also making other investments aimed at provide enhanced customer satisfaction over the varied services offered by it.

Commenting on Continental acquisition of United Vending, Steve LaPorte – President of Continental’s refreshment services group, said: “United Vending brings Continental a wonderful cross-section of accounts and a large and loyal client base.

“We are delighted to have its well-seasoned, customer-focused staff join our refreshment services operations. The success of these deals has substantiated and helped the company work toward its goal of expanding its market presence in Southeast Michigan.

]]>TIAA Bank has acquired a portfolio of healthcare equipment leases and loans worth $1.5 billion from the healthcare equipment finance (HEF) business of GE Capital.

The acquired healthcare portfolio features loans and leases to nearly 1,100 hospitals and also 3,600 physician practices and diagnostic and imaging centers in the US. Among the assets financed by the business are imaging, monitoring, ultrasound, respiratory, surgical, and lab equipment.

The acquisition of the healthcare equipment financing portfolio expands the commercial banking business and improves the ability to offer a full variety of financial solutions to institutional clients and cater to an even greater number of healthcare providers, said TIAA Bank.

Apart from that, the parties have signed a five-year vendor financing agreement for GE Healthcare’s US customers.

The leadership, infrastructure and salesforce of GE Healthcare Equipment Finance will be absorbed into GE Healthcare next year and the team will continue to originate and service transactions as per a co-branding arrangement with TIAA Bank.

Based in Jacksonville, Florida, TIAA Bank offers a wide variety of commercial banking solutions such as business banking, term loans, lines of credit, real estate and equipment financing to its clients. The addition of the healthcare equipment finance is expected to allow TIAA to come up with an even more comprehensive variety of services to the strategic growth market.

“The healthcare industry is dynamic and ever-changing, and the need for new healthcare equipment continues to grow at a rapid pace. This deal will allow TIAA Bank and GE’s healthcare finance business to continue to help clients with their financing needs for years to come.”

For GE Capital, the sale of the healthcare equipment financing portfolio was taken up to become smaller and more focused.

Trevor Schauenberg – president and CEO of GE Capital Industrial Finance, said: “This is an excellent outcome for GE Capital, GE Healthcare and its customers.

“TIAA Bank is a well-known, highly respected institution and we look forward to working with its outstanding team, ensuring a strong foundation for the future and seamless continuity of service for our U.S. customers. With this portfolio sale and financing alliance, we are expanding our funding capability and improving our competitive offerings for our customers.”

]]>http://www.business-news-today.com/tiaa-bank-buys-1-5bn-healthcare-equipment-finance-portfolio-from-ge/feed/011555Total and partners sign MoU of gas agreement for Papua LNG Projecthttp://www.business-news-today.com/papua-lng-project-update-total-mou/
http://www.business-news-today.com/papua-lng-project-update-total-mou/#respondSun, 18 Nov 2018 02:36:17 +0000http://www.business-news-today.com/?p=11552Oil and gas industry news : French oil and gas giant Total alongside its partners ExxonMobil and Oil Search has signed a Memorandum of Understanding (MoU) with the Papua New Guinea (PNG) government to establish the key terms of the gas agreement for the Papua LNG Project. Signed during the Asia Pacific Economic Conference (APEC) […]

]]>Oil and gas industry news : French oil and gas giant Total alongside its partners ExxonMobil and Oil Search has signed a Memorandum of Understanding (MoU) with the Papua New Guinea (PNG) government to establish the key terms of the gas agreement for the Papua LNG Project.

Signed during the Asia Pacific Economic Conference (APEC) held at Port Moresby, the MoU paves way for the gas agreement to be finalized by the first quarter of 2019. Following the MoU, the partners have agreed to kick-start the first phase of the engineering studies of LNG project in Papua New Guinea.

Papua LNG Project

The objective of the Papua LNG Project is to bring to market the gas drawn from the Elk and Antelope onshore fields in the PRL-15 block located in Gulf Province.

Total is the operator of the PRL-15 block with a stake of 31.1%. ExxonMobil, through its acquisition of InterOil in February 2017, holds a stake of 28.3%, while Oil Search and the PNG government, hold stakes of 17.7% and 22.5%, respectively.

Total and partners sign MoU of gas agreement for Papua LNG Project. Photo courtesy of I Tangopaso (talk))/Wikipedia.org.

According to Total, the Papua LNG Project will feature a couple of LNG trains, each having a processing capacity of 2.7 MTPA. The project will be developed in synergy with the existing PNG LNG project facilities in cooperation with the facilities of the PNG LNG project, operated by ExxonMobil in partnership with Oil Search, Santos, Kumul Petroleum, JX Nippon and Mineral Resources Development.

Commenting on the new LNG project in Papua New Guinea, Patrick Pouyanne – Chairman and CEO of Total, said: “The MoU signed by the State of PNG and the partners of the Papua LNG project is an important step in all the parties’ commitment to the project.

“Investing in LNG is a long term enterprise and our objective is to be able to make the project as competitive as possible. Total being the second-largest world private LNG player, we are fully committed to the success of the Papua LNG project, which benefits from a favorable geographical location close to Asian markets.”

The central processing facility of the LNG project in Papua New Guinea will be located near the Purari River in the Gulf Province, some 360km north-west of Port Moresby. The gas processing plant will be linked to the LNG facility by onshore and offshore gas and condensate pipelines.

Caution Bay, which is located near Port Moresby, will be the location for what will be the second liquefied natural gas plant in Papua New Guinea.

]]>http://www.business-news-today.com/papua-lng-project-update-total-mou/feed/011552Amazon launches grocery delivery and pickup services in 60+ US citieshttp://www.business-news-today.com/amazon-launches-grocery-delivery-and-pickup-services-in-60-us-cities/
http://www.business-news-today.com/amazon-launches-grocery-delivery-and-pickup-services-in-60-us-cities/#respondWed, 14 Nov 2018 15:17:00 +0000http://www.business-news-today.com/?p=11526Amazon has started delivery of natural and organic products from its last-year acquired Whole Foods Market through Prime Now in more than 60 US cities. Check out Amazon acquisition of Whole Foods Market here. The grocery delivery and pickup service from Whole Foods Market is now available to Prime Members across the cities of Albuquerque, […]

The grocery delivery and pickup service from Whole Foods Market is now available to Prime Members across the cities of Albuquerque, Birmingham, Boise, Charleston, Colorado Springs, Stamford, Hartford, Kansas City, Providence, Salt Lake City along with additional neighborhoods in Cincinnati and Boston.

Amazon’s Prime Now will enable its members in the select cities to order items from Whole Foods Market for the first time ever. The delivery service from Whole Foods is currently offered across 63 cities with Amazon planning to make the service available throughout the US in the rest of the year.

For grocery pickup, Prime members have to place the order using the Prime Now app and then at checkout, they have an option to select either a free pickup in as little as an hour on orders of $35 or in 30 minutes for $4.99.

Upon arrival at the designated pickup spot at the Whole Foods Market store, customers after parking their cars at designated spots will have a Prime Now shopper placing the groceries into cars within minutes.

Prime Now members also have an option to let the store know that they are on their way for pickup, using the Prime Now app, so that the groceries will be ready for them at the time of their arrival.

Christina Minardi – Whole Foods Market Executive Vice President of Operations, said: “Prime Now delivery continues to be a hit with our customers, and we’re excited to introduce the service in 10 new cities.

“And for our customers in Boise, Jacksonville, Las Vegas, San Diego, Tampa, and West Palm Beach, we’re thrilled to also offer the option of grocery pickup. It’s just another way we’re making it even easier for more customers to enjoy Whole Foods Market’s healthy and organic food.”

Whole Foods Market’s pickup times are 8:00 AM to 9:00 PM daily with delivery service available daily till 10:00 PM.

Customers through the Prime Now app can buy from Whole Foods Market a range of items, including fresh and organic produce, meat and seafood, bakery, dairy, floral and everyday staples among others for pickup or delivery.

Also, Prime members can buy select alcohol in Cincinnati, Jacksonville, West Palm Beach, San Diego and Tampa stores of Whole Foods Market.

]]>http://www.business-news-today.com/amazon-launches-grocery-delivery-and-pickup-services-in-60-us-cities/feed/011526On-Cor Frozen Foods to launch antibiotic free new chicken entreeshttp://www.business-news-today.com/on-cor-frozen-foods-to-launch-antibiotic-free-new-chicken-entrees/
http://www.business-news-today.com/on-cor-frozen-foods-to-launch-antibiotic-free-new-chicken-entrees/#respondWed, 14 Nov 2018 14:31:08 +0000http://www.business-news-today.com/?p=11535US-based On-Cor Frozen Foods is set to launch two new chicken entrees in the form of Chicken & Broccoli Pasta Bake and Chicken & Vegetable Rice Bake, which are both made of white meat chicken with no added antibiotics. The new chicken entrees will be introduced in the frozen aisle of popular grocers across the […]

]]>US-based On-Cor Frozen Foods is set to launch two new chicken entrees in the form of Chicken & Broccoli Pasta Bake and Chicken & Vegetable Rice Bake, which are both made of white meat chicken with no added antibiotics.

The new chicken entrees will be introduced in the frozen aisle of popular grocers across the US this winter.

On-Cor Frozen Foods claims to be the first in the frozen food category to make no added antibiotics chicken entrees, which it says reflects its commitment to its consumers by giving them quality meals at an affordable price.

On-Cor Chicken & Broccoli Pasta Bake. Photo courtesy of Business Wire

Dace Wetherton, vice president of retail sales at On-Cor Frozen Foods, said: “We’re excited to be the first value entrée brand to make the no added antibiotics claim. Our brand is always evolving; we are constantly working to meet the needs of our consumers. These two new chicken entrées offer the nutrition and product attributes our consumers crave, at a great price.”

The company claims that in addition to having no added antibiotics, the two new chicken entrees are a good source of protein, made with 100% real cheese, no added preservatives, and 0gm trans fat.

On-Cor Frozen Foods says that it expands its portfolio continuously and as part of that the company announced recently its new On-Cor Fully Cooked Sausage Links, Beef Patties and Sausage Patties, which can be had at any time of the day, whether it is for breakfast, lunch or dinner.

Dace Wetherton added: “It’s an exciting time for the brand! Our team is dedicated to bringing innovative, superior products to our consumers to enjoy during all dayparts.”

]]>http://www.business-news-today.com/on-cor-frozen-foods-to-launch-antibiotic-free-new-chicken-entrees/feed/011535Choctaw Nation announces new expansion for Choctaw Casino and Resorthttp://www.business-news-today.com/choctaw-nation-choctaw-casino-and-resort-expansion/
http://www.business-news-today.com/choctaw-nation-choctaw-casino-and-resort-expansion/#respondWed, 14 Nov 2018 13:44:04 +0000http://www.business-news-today.com/?p=11540Choctaw Casino and Resort expansion project: Choctaw Nation of Oklahoma has announced a new expansion project for its Choctaw Casino and Resort in Durant in Bryan County, Oklahoma to increase room capacity, gaming floor and for adding new amenities. Choctaw Casino and Resort Expansion Project The latest expansion will be the fourth for Choctaw Casino […]

]]>Choctaw Casino and Resort expansion project: Choctaw Nation of Oklahoma has announced a new expansion project for its Choctaw Casino and Resort in Durant in Bryan County, Oklahoma to increase room capacity, gaming floor and for adding new amenities.

Choctaw Casino and Resort Expansion Project

The latest expansion will be the fourth for Choctaw Casino and Resort ever since it opened doors some 12 years ago. Choctaw Nation expects to begin construction on the expansion project in late spring 2019 with nearly 24 months estimated for its completion.

The Choctaw Casino and Resort expansion project will create 1,000 new jobs in Durant, claimed the Native American tribe.

Choctaw Nation is looking to add amenities such as new pools and lazy river, retail space, entertainment options, conference center, food and beverage, and parking garage through the expansion project.

Rendering of the expanded Choctaw Casino and Resort in in Durant. Photo courtesy of Business Wire.

Commenting on the Choctaw Casino and Resort expansion project, Gary Batton – Choctaw Nation of Oklahoma Chief, said: “More than 30 years ago our tribe had the vision to begin this expedition by purchasing the 50 acres that the resort resides on today.

“The property was the starting point for many wonderful things to come for our tribe. We are elated to continue to grow with our community and improve the lives of our tribal and community members. This expansion will help the local economy and meet the demands of our growing customer base.”

Choctaw Nation has appointed Tutor Perini Building to head a design-build team that will include Friedmutter Group and JCJ Architecture as design partners.

Under the contract, Tutor Perini Building will handle the design and construction of a new 1,000-room hotel, which will have various restaurants, an ultra-lounge bar, movie theaters, conference facilities, casino expansion, resort style pools, new retail space and also the new parking garage.

Tutor Perini, the parent company of Tutor Perini Building, said that design work is likely to commence in the fourth quarter of this year with substantial completion expected in the spring of 2021.

Leonard Rejcek – President and CEO of Tutor Perini’s Building Group, commenting on the contract for the Choctaw Casino and Resort expansion project, said: “Tutor Perini is proud to partner with the Choctaw Nation to build this very important project.

“This opportunity represents our expansion into building projects in the South Central states, and it will build upon Tutor Perini’s long and successful track record of work on large hospitality and gaming projects. Tutor Perini has completed more than 30 hospitality and gaming projects for various tribal nations over the past 25 years.”

On the other hand, Choctaw Nation has named TynanGroup as the developer of the Choctaw Casino and Resort expansion project.

]]>http://www.business-news-today.com/choctaw-nation-choctaw-casino-and-resort-expansion/feed/011540Origis Energy breaks ground on 200MW GA Solar 4 project in Georgiahttp://www.business-news-today.com/ga-solar-4-project-origis-energy/
http://www.business-news-today.com/ga-solar-4-project-origis-energy/#respondSun, 11 Nov 2018 17:48:11 +0000http://www.business-news-today.com/?p=11510Solar industry news : Origis Energy has started construction of the 200MW GA Solar 4 project in Twiggs County, Georgia, which it had recently acquired from First Solar for an undisclosed price. GA Solar 4 project in Georgia Said to be the largest infrastructure project in Twiggs County, the new solar power plant will create […]

]]>Solar industry news : Origis Energy has started construction of the 200MW GA Solar 4 project in Twiggs County, Georgia, which it had recently acquired from First Solar for an undisclosed price.

GA Solar 4 project in Georgia

Said to be the largest infrastructure project in Twiggs County, the new solar power plant will create up to 400 construction roles in addition to contributing tax revenues for the region.

To be located near Warner Robins, the GA Solar 4 project will feature more than 500,000 of First Solar’s Series 6 thin-film solar modules that will be installed on single axis tracker mounts. Upon its commissioning, which is likely to be in December 2019, the GA Solar 4 project is expected to be the largest solar power plant in Georgia and also in the southeastern US.

Johan Vanhee – Managing Director, Business Development and Operations for Origis Energy, commenting on the GA Solar 4 project, said: “GA Solar 4 will make a significant contribution to Georgia.

“Twiggs County leaders have worked closely with First Solar to make this project a reality. It will make a very strong positive difference in the area’s economic growth and long-term tax base. We thank all members of the team for their contributions to this solar milestone.”

Origis Energy will sell all energy and renewable attributes of the solar power plant in Twiggs County to Georgia Power through the utility’s Renewable Energy Development Initiative (REDI) program.

Omar Aboudaher – Regional Director of Project Development for First Solar, commenting on the GA Solar 4 project, said: “This project is a direct result of the Georgia Public Service Commission’s visionary efforts to expand solar in the state.

“We are more hopeful today that the GA Solar 4 project is a stepping stone to the greater expansion of solar energy in the state. The success of this project could not have been possible without Georgia Power’s vision and the tireless efforts of Twiggs County.”

In September, Origis Energy announced that it has signed a series of agreements with Global Atlantic Financial Group, under which the latter will make a minority investment in the company. Prior to the agreement, Global Atlantic had invested across more than 150MW of solar projects developed by the Florida-based Oris Energy.

For more solar industry news and updates on the GA Solar 4 project, keep following Business-News-Today.com.